Public Bank Inks MoC with Perodua to Provide Financial Facilities

Public Bank Berhad has inked a Memorandum of Collaboration (MoC) with local automaker Perodua to provide financial facilities to Perodua authorised dealers with a slew of financial products and services.

The collaboration with Perodua will enable Public Bank to interface and facilitate digitalization via online submission of hire purchase end-financing applications to the Bank including uploading of basic application documents and tracking of application status.

Public Bank Berhad CEO Tan Sri Dato' Sri Dr. Tay Ah Lek (third from left) & Perodua president & CEO Dato' Sri Zainal Abidin Ahmad (third from right)

Speaking during the signing ceremony was managing director and CEO of Public Bank Tan Sri Dato’ Sri Dr. Tay Ah Lek said, “Perodua is also Malaysia’s first and biggest Energy-Efficient Vehicle (EEV) manufacturer. On our part, supporting the growth of the EEV industry is a key pillar of the Bank's climate agenda, where Public Bank has mobilised over RM30 billion in domestic EEV financing by the end of 2022.”

“Thus, there is strong synergistic potential where Public Bank and Perodua can continue to work together, in not only growing our respective business, but also contributing positively toward ESG initiatives for the betterment of our society and the world,” the CEO added.

Also present during the signing ceremony was Perodua president and CEO Dato’ Sri Zainal Abidin Ahmad, who expressed his gratitude to Public Bank for providing these services, which will directly address the need for the current and future Perodua activities.

“I hope this collaboration will further elevate our respective organisations to greater heights,” Dato’ Sri Zainal commented.

2023 Perodua Axia D74A - one of the EEVs currently sold by Perodua

This MoC signing shows a strong indication of Public Bank’s commitment to contribute to the sustainable development of our communities and fuel the nation’s EEV industry. To achieve so, the firm has also increased its EEV lending target from RM25 billion to RM30 billion by 2025.

“As part of our ongoing commitment to supporting the growth of the EEV industry, Public Bank has increased its EEV lending target from RM25 billion to RM33 billion by 2025,” Tan Sri Dato’ Sri Dr. Tay Ah Lek said.